Limitation of Liability; Fiduciary Duties. Except as otherwise specified in Article IV of this Agreement or the Law, no Member shall have any personal liability whatever, solely by reason of his, her or its status as a Member of the Company, whether to the Company, the Board of Managers or any creditor of the Company, for the debts of the Company or any of its losses beyond the amount of the Member’s obligation to contribute his, her or its Capital Contribution to the Company. Unless otherwise required by law, no Member shall owe a fiduciary duty to another Member.
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Samples: Operating Agreement (Viking Energy Group, Inc.), Operating Agreement (Viking Energy Group, Inc.), Operating Agreement (Viking Energy Group, Inc.)
Limitation of Liability; Fiduciary Duties. Except as otherwise specified in Article IV of this Agreement or the Law, no Member shall have any personal liability whatever, solely by reason of his, her or its status as a Member of the Company, whether to the Company, the Board of Managers or any creditor of the Company, for the debts of the Company or any of its losses beyond the amount of the Member’s obligation to contribute his, her or its Capital Contribution to the Company. Unless otherwise required by lawlaw or pursuant to Section 9.14 of this Agreement (which governs the duties of Managers who may be Members), no Member shall owe a fiduciary duty to another Member.
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